Citigroup Inc. (C)’s Mexico subsidiary was fined 30 million pesos ($2.2 million) by the nation’s bank regulators, which faulted the firm for inadequate controls and making loans that violated lending rules. The regulator known as the CNBV announced the penalty in an e-mailed statement today. Banamex said in a separate statement that it paid the sanction and is working on corrective measures. Citigroup, the third-largest U.S. bank, said in February that it had discovered the Banamex unit had made bogus loans to Oceanografia, forcing the New York-based company to cut previously reported earnings for 2013 by $235 million. Banamex had advanced funds to Oceanografia secured by promises that state-run Petroleos Mexicanos would repay the bank for work the oil-services firm performed.